Originally posted by Gemma at Qdos
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
What insurance has everybody got?
Collapse
X
-
Blog? What blog...? -
Agree with Mal - IR35 cover is a no brainer and PCG plus is pretty good.
This is what I have. Of course, you can pay extra with them for coverage even if you lose, but it gets complicated. Also, QDOS do a decent package also (completely different to PCG).
If you don't bother with either, you're stupid.
Actually, what am I saying, don't bother. The more people with zero coverage, the more easy targets for HMRC to pick on and leave me alone.Rhyddid i lofnod psychocandy!!!!Comment
-
PI, PL & TLC35 from Qdos, I even managed to haggle a discount on renewal with them this year....Comment
-
Tax / IR35 liability cover with Qdos - well worth it for peace of mind.
But never heard of anyone claiming it.Comment
-
Originally posted by SueEllen View PostActually there are a couple of large insurers who will not automatically cover your office contents if you do not tell them. Some of your office contents will be in your business' name not yours.
Originally posted by northernladuk View Postit and seems to be common now to reduce the prices by reducing the cover so it is absolutely essential, now more than ever, to read the fine print. We got caught out using the comparison sites trying to get a like for like insurance which we thought we had done until the fine print came. The old one had items away from home included. The new one had it as an option you had to tick that put the price up above what the comparison site said. We had to know our old insurance inside out to know we had it and read every line in the new one to know we had to tick it... which we didn't until we needed it. Twats.Free advice and opinions - refunds are available if you are not 100% satisfied.Comment
-
Originally posted by Wanderer View PostAhh, if they are business assets then I wouldn't have expected them to be covered under my personal home contents policy anyway. Interesting to hear that some policies may actually cover work assets. Of course, the director could have just brought the laptop off the company a few days before it got stolen so maybe it was their personal property after all...."You’re just a bad memory who doesn’t know when to go away" JRComment
-
You need both business and personal insurance. Qdos provide a full range of business products, such as PII, TLC35 and contract reviews. They're a decent bunch of people as well.
With regards to personal insurance, you should consider:
Income Protection Cover (not to be confused with accident and sickness cover), Critical Illness Cover and Life Cover. These can be purchased online, but make sure you do your homework first, especially if your considering Critical illness, as the policies from different providers vary.
Alternatively, you can source these products through an adviser. If you're looking at Life insurance only and operate through a LTD, you should consider a Relevant Life Policy as it is generally more tax efficient.
Always shop around and read the small print.Comment
-
I'm looking to signing for IR35 insurance too.
Please correct me if I'm wrong, but it looks like the main difference between QDos TLC35 and PCG Plus is that the first one will cover for additional tax and fines if you're caught by IR35 whereas PCG will just cover the costs of dealing with an investigation.
BTW this is my first contract as an Ltd company after 2 years working through an umbrella. Was reviewed by QDos, they pointed out a couple of concerns and the client agreed to make such changes. Would you still sign up for IR35 insurance?Comment
-
Originally posted by Daventry View PostI'm looking to signing for IR35 insurance too.
Please correct me if I'm wrong, but it looks like the main difference between QDos TLC35 and PCG Plus is that the first one will cover for additional tax and fines if you're caught by IR35 whereas PCG will just cover the costs of dealing with an investigation.
BTW this is my first contract as an Ltd company after 2 years working through an umbrella. Was reviewed by QDos, they pointed out a couple of concerns and the client agreed to make such changes. Would you still sign up for IR35 insurance?
But, they are structured a bit differently. TLC35 you pay for the coverage at the time (i.e. if you're paying and get investigated you're covered) Thus if you ever stop contracting you need to keep paying because they mihgt come looking years later.
The abbey tax extra bit with PCG is different. You pay to be covered for the contract and then have to pay fees for every new one, every 6 months for extensions etc.
One thing though. You can't hand it to PCG if you get investigated, then if they lose expect QDOS to cough up if you've got that as well. Its got to be them from the start.Rhyddid i lofnod psychocandy!!!!Comment
-
Originally posted by Daventry View PostI'm looking to signing for IR35 insurance too.
Please correct me if I'm wrong, but it looks like the main difference between QDos TLC35 and PCG Plus is that the first one will cover for additional tax and fines if you're caught by IR35 whereas PCG will just cover the costs of dealing with an investigation.
BTW this is my first contract as an Ltd company after 2 years working through an umbrella. Was reviewed by QDos, they pointed out a couple of concerns and the client agreed to make such changes. Would you still sign up for IR35 insurance?
That aside, as I've said many times, if someone accepts the risk that they will cover you for a potential 6-figure tax bill for a fee of a couple of hundred quid, you can be certain that they are pretty damned sure they won't ever have to pay it out.Blog? What blog...?Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment